Devon Morris & Shallow discuss current events, personal stories, and whatever else comes to their mind in the "Trash Talk Podcast".
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We interview the best surfers in the world and the people behind them, so surfers can learn ways to improve their own surfing. The podcast is targeted to open-minded surfers who want to improve and progress their surfing as well as enhance their surf longevity & health. Each interview will educate the listener on ways to refine and progress their surfing and/or increase their surf longevity.
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We interview and study famous financial billionaires, including Warren Buffett, Ray Dalio, and Howard Marks, and teach you what we learn and how you can apply their investment strategies in the stock market. We Study Billionaires is the largest stock investing podcast show in the world with 180,000,000+ downloads and is hosted by Stig Brodersen, Preston Pysh, William Green, Clay Finck, and Kyle Grieve. This podcast also includes the Richer Wiser Happier series hosted by best-selling author W ...
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Are you finding it hard to get better at surfing, struggling to catch waves, negotiate the line up and understand surf culture? This podcast that helps passionate lifelong surfers to catch more waves, surf with more speed, style, grace and to gain wisdom and confidence in the water Discover why you aren't getting the most out of your surfing, the exact steps to take to improve, so you can develop not only your surfing, but also your relationship to surfing and the ocean. The podcast shares l ...
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Learn how to leverage AI in your business.
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RWH060: What Buffett, Munger & Bill Miller Taught Me w/ Robert Hagstrom
2:08:33
2:08:33
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2:08:33In this episode, William Green chats with Robert Hagstrom, Chief Investment Officer & Senior Portfolio Manager at Equity Compass. Robert is the author of a classic book, “The Warren Buffett Way,” which lays out the principles that made Buffett the greatest investor of all. Here, Robert shares life-changing lessons he learned from Buffett & two othe…
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Are you wasting energy every time you paddle out — and missing waves because of it? Most surfers spend 99% of their time in the water not actually riding waves. They're paddling, positioning, sitting, or struggling to get back out — and often doing it inefficiently. If you're tired of burning out in the lineup and still not catching the waves you w…
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TIP745: Best Quality Stock Idea Q3 2025 w/ Clay Finck
1:01:02
1:01:02
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1:01:02On today’s episode, Clay Finck breaks down his best quality stock idea for Q3 2025: Amazon. Clay explores how Amazon has evolved from a low-margin online retailer into a diversified, high-margin tech platform. He also makes the case as to why Big Tech may be systemically undervalued, providing a unique opportunity for investors willing to ride out …
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Why Paddling is 90% of Surfing - And How to Master It with Rob Case
57:33
57:33
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57:33Are you wasting energy every time you paddle out - and missing waves because of it? Most surfers spend 99% of their time in the water not actually riding waves. They're paddling, positioning, sitting, or struggling to get back out - and often doing it inefficiently. If you're tired of burning out in the lineup and still not catching the waves you w…
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Struggling to stand up quickly and smoothly on your surfboard? Your popup might be the one skill holding your surfing back. The popup—your transition from paddling to riding—is the hardest maneuver in surfing and the foundation of every great ride. If yours is slow, clumsy, or inconsistent, it’s costing you waves, confidence, and how others see you…
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125 Master the Pop-up: Dry-Land Drills for Faster, Smoother Take-offs
8:14
8:14
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8:14Struggling to stand up quickly and smoothly on your surfboard? Your popup might be the one skill holding your surfing back. The popup—your transition from paddling to riding—is the hardest maneuver in surfing and the foundation of every great ride. If yours is slow, clumsy, or inconsistent, it’s costing you waves, confidence, and how others see you…
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1
BTC247: Bitcoin's evolution with Traditional Finance w/ Jon Melton (Bitcoin Podcast)
41:54
41:54
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41:54Preston sits down with Jon Melton to explore his shift from Morgan Stanley to Bitcoin, insights on Silvergate Bank’s crypto strategy, and the future of Bitcoin-backed finance. They delve into lending models, the impact of regulation, and how Jon sees banks engaging with digital assets going forward. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 04:31…
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TIP744: Hidden Monopolies w/ Kyle Grieve
1:03:00
1:03:00
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1:03:00On today’s episode, Kyle Grieve discusses a thought-provoking framework that redefines competitive advantage through the lens of customer loyalty. Kyle breaks down the five types of customer loyalty moats, introduces the Moat Strength Index (MSI), and explains how investors can use this approach to measure, monitor, and deepen their conviction in h…
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TIP743: Should Value Investors Own Index Funds?
58:33
58:33
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58:33In this episode, Clay shares John Bogle’s timeless philosophy of passively investing in low-cost index funds. Bogle, the founder of Vanguard, helped spark a global movement that has made investing more accessible and cost-effective. Today, Vanguard manages over $10 trillion in assets, and Bogle’s simple approach has been adopted by millions worldwi…
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BTC246: The Future of Insurance using Bitcoin w/ Becca Rubenfeld & Rob Hamilton (Bitcoin Podcast)
1:08:41
1:08:41
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1:08:41Becca and Rob from AnchorWatch join Preston to unpack the future of Bitcoin custody and insurance. They explore multisig security, time-locked vaults, inheritance planning, insured yield products, and how institutional players like banks and insurers are adopting crypto through innovative custody models, convertible debt strategies, and reinsurance…
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TIP742: Invest like a Business Owner w/ David Fagan
1:24:31
1:24:31
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1:24:31In this episode, Stig Brodersen speaks with David Fagan, a successful entrepreneur and investor, about the powerful overlap between building businesses and investing in public markets. They explore why business owners often think differently about diversification, dividends, and risk—and how habits, friendships, and clarity of purpose shape long-te…
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TIP741: The Intrinsic Value of Uber & Reddit w/ Shawn O'Malley
1:13:56
1:13:56
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1:13:56On today's episode, Clay is joined by Shawn O'Malley to discuss his work on The Intrinsic Value Podcast and two key holdings from The Intrinsic Value Portfolio. Shawn recently launched The Intrinsic Value Podcast alongside co-host Daniel Mahncke, where they conduct weekly deep dives into companies while building their own concentrated portfolio of …
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BTC245: The Next Metaplanet? (Smarter Web Company) w/ Jesse Myers and Andrew Webley
58:39
58:39
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58:39Andrew and Jesse join Preston to discuss Smarter Web’s transformation into a major Bitcoin Treasury firm, UK market dynamics, valuation strategies, and future growth plans, including preferred shares. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 14:02 - What is MNAV and why is it a crucial metric for valuing Bitcoin Treasury firms? 35:20 - How does …
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1
TIP740: The Great Mental Models Part 1
1:07:07
1:07:07
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1:07:07On today’s episode, Kyle Grieve discusses the power of mental models, how they sharpen our thinking, and how they improve our decision-making in investing and everyday life. He explores various key concepts in general thinking, including the circle of competence, inversion, first-principles thinking, probabilistic thinking, and more. IN THIS EPISOD…
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TIP739: The Psychology Of Human Misjudgement
1:01:28
1:01:28
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1:01:28On today’s episode, Kyle Grieve discusses Charlie Munger’s legendary speech, The Psychology of Human Misjudgment, and unpacks all 25 of his cognitive biases that often lead even the most intelligent people to make poor decisions. Drawing from Poor Charlie’s Almanack, Kyle explores how these psychological tendencies—like incentive-caused bias, socia…
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Is surfing a sport, an art, or something in between - and does it really matter? If you've ever felt pressure to "perform" in the water or questioned your progress as a surfer, this episode will shift your mindset. Michael Frampton and Devon Howard unpack how redefining surfing as an art form - not just a competitive sport, it can transform both yo…
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124 Surfing: Art or Sport? with Devon Howard
1:18:02
1:18:02
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1:18:02Is surfing a sport, an art, or something in between - and does it really matter? If you've ever felt pressure to "perform" in the water or questioned your progress as a surfer, this episode will shift your mindset. Michael Frampton and Devon Howard unpack how redefining surfing as an art form - not just a competitive sport - can transform both your…
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1
BTC244: Bitcoin Mastermind Discussion Q2 2025 w/ Joe Carlasare, HODL, and Jeff Ross (Bitcoin Podcast)
1:21:47
1:21:47
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1:21:47Bitcoin market insights, Treasury trends, stablecoin regulation, and bold predictions for Bitcoin's future. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:21 - How global liquidity and leverage affect Bitcoin's market performance 08:56 - The evolving role and risks of Bitcoin Treasury companies 17:26 - Why stablecoin regulations are reshaping digit…
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1
RWH059: Ask Me Anything w/ William Green
1:56:55
1:56:55
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1:56:55In this unusually personal and candid episode, William Green answers a wide range of probing questions posed by listeners to his podcast and readers of his book, “Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets & Life.” Here, William discusses the key qualities, principles, and practices he’s observed in the best investors…
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123 Wave Count Wins: How Paddle Training Transforms Surfing with Van Vu of Basis Surf
57:43
57:43
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57:43If you've ever struggled with wave count, paddle fatigue, or felt stuck in your surfing despite hours in the water, this episode is a game-changer. Van Vu — host of the Basis Surf Podcast and creator of the Basis Surf Paddle Trainer — unpacks the core reason most surfers plateau: poor paddle fitness and a rushed approach to board progression... + m…
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TIP738: Heico: The Quiet Aerospace Compounder
1:02:21
1:02:21
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1:02:21In this episode, Clay dives deep into the remarkable story of Heico — a quiet compounder that’s delivered over 22% annual returns for more than three decades. While aerospace may seem like a commoditized or slow-moving industry, Heico flips that assumption on its head. Clay breaks down how the Mendelson family transformed a struggling parts supplie…
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BTC243: Jim Chanos Vs Pierre Rochard MSTR mNAV debate (Bitcoin Podcast)
50:15
50:15
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50:15Jim Chanos and Pierre Rochard face off on Bitcoin-native corporates, debating governance, valuation models, capital structure, and whether BTC on the balance sheet adds value or risk. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:27 - Why Jim Chanos is short BTC companies but long Bitcoin itself 05:44 - Pierre Rochard's view on using corporate deb…
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TIP737: Margin Of Safety by Seth Klarman w/ Kyle Grieve
1:11:43
1:11:43
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1:11:43On today’s episode, Kyle Grieve discusses the principles of value investing, including how to distinguish between speculation and true investing, the dangers of Wall Street's incentive structures, and the importance of prioritizing downside protection over upside potential. We’ll also delve into discipline for value investing, how to develop a marg…
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TIP736: How the Best Investors Execute w/ Clay Finck
1:04:34
1:04:34
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1:04:34In this episode, Clay reviews Lee Freeman-Shor's book — The Art of Execution. Freeman-Shor studied 45 of the world's top investors over seven years, revealing why investment success depends far more on execution than stock picking. Through analysis of nearly 1,000 investments, he discovered that even the best investors are wrong half the time, but …
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1
BTC242: Bitcoin Core Vs. Knots w/ NVK (BItcoin Podcast)
55:06
55:06
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55:06Preston Pysh welcomes back NVK, renowned Bitcoin expert and founder of Coinkite, for an in-depth conversation on the future of Bitcoin, the evolving dynamics of its core development, and the promising rise of decentralized platforms like Nostr. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:01 - How Bitcoin's increasing price may sustain mining inc…
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1
TIP735: Compounding with Character w/ Guy Spier
2:03:48
2:03:48
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2:03:48In this episode, Stig Brodersen speaks with Guy Spier who has outperformed the S&P 500 since 1997, with a 9.6% vs. 8.8% CAGR. They explore why Guy invested in The Economist, and how friendships, service, and living by an inner scorecard guide his life and investment philosophy. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:27 - Why Guy Spier decid…
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1
TIP734: My Investment Philosophy w/ Clay Finck
1:03:50
1:03:50
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1:03:50In this episode, Clay shares the key principles behind his personal investment approach. His approach has been shaped by over a decade of experience and lessons from great investors like Charlie Munger, Nick Sleep, and Chris Mayer. He explains how he builds a portfolio focused on high-quality businesses and long-term compounding. It’s a candid look…
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Is surfing just a sport—or is it something much deeper, a form of art that mirrors your soul? Whether you're a weekend warrior or a lifelong wave chaser, you've likely felt that indescribable magic in the water. This episode dives into that very feeling, exploring how surfing transcends competition and becomes a deeply personal, creative expression…
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1
BTC241: Bitcoin Treasury Companies w/ James Check (Checkmate) Bitcoin Podcast
1:20:36
1:20:36
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1:20:36James and Preston dissect the evolving cryptocurrency landscape—from market structure transitions and on-chain data missteps to Bitcoin mining incentives and the cutting-edge strategies behind Bitcoin Treasury companies. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:47 - Lessons learned from the 2020-2021 crypto cycle 04:59 - Why the crypto market…
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1
TIP733: How Warren Buffett Became Warren Buffett
1:06:07
1:06:07
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1:06:07On today’s episode, Kyle Grieve discusses how Warren Buffett evolved from a young entrepreneur with an intense fascination for numbers into one of history’s most disciplined and independent investors. The episode explores the key influences, early lessons, and defining choices that shaped his unique approach to business and capital allocation. IN T…
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122 Surfing’s Soul: Is It Art, Sport, or Something More? - with Donald Brink
1:21:18
1:21:18
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1:21:18Is surfing just a sport—or is it something much deeper, a form of art that mirrors your soul? Whether you're a weekend warrior or a lifelong wave chaser, you've likely felt that indescribable magic in the water. This episode dives into that very feeling, exploring how surfing transcends competition and becomes a deeply personal, creative expression…
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1
TIP732: The Mindset and Skills That Build Investing Legends w/ Ian Cassel
1:20:54
1:20:54
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1:20:54On today’s episode, Kyle Grieve chats with Ian Cassel about what separates good, great, and GOAT investors by breaking down the five core skills of stock picking. We'll also explore how elite investors evolve, avoid common traps, and develop underappreciated edges that compound into long-term outperformance. IN THIS EPISODE YOU’LL LEARN: 00:00 - In…
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BTC240: Economic Calculation w/ Bitcoin with Joe Burnett and Chris Nicholson (Bitcoin Podcast)
55:17
55:17
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55:17Preston sits down with Chris and Joe to explore how Bitcoin is changing the way we think about corporate treasuries, asset valuation, and investment risk. They dive into the STRIVE report, debate traditional financial models, and propose new frameworks for evaluating assets in a Bitcoin-denominated world. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro…
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1
RWH058: Winning Ways w/ Bill Nygren
2:09:11
2:09:11
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2:09:11In this episode, William Green chats with investing legend Bill Nygren, who oversees about $25 billion at Harris Associates. Bill is the firm’s Chief Investment Officer for US Equities & co-manages two flagship mutual funds: Oakmark Select & Oakmark Fund. Here, he discusses the processes, principles, habits & mindset that have enabled him to beat t…
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TIP731: Owning Best-in-Class Businesses w/ Joseph Shaposhnik
1:11:54
1:11:54
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1:11:54On today’s episode, Clay is joined by Joseph Shaposhnik to discuss the launch of his new ETF, Rainwater Equity. The Rainwater Equity ETF just launched on June 18th, 2025, under the ticker RW, and its objective is to compound capital at an above-average rate by investing in publicly listed recurring revenue businesses. The fund Joseph managed at his…
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1
BTC239: Bitcoin, Psychology & the Return of Meaning w/ Seb Bunney (Bitcoin Podcast)
1:15:37
1:15:37
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1:15:37Seb and Preston explore the hidden emotional and societal costs of fiat currency, how Bitcoin changes our perception of value, and why money is more than just economics—it's identity. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:28 - The emotional toll of living within a fiat monetary system 10:04 - How Bitcoin changes the way we express values t…
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Is your surfboard truly helping you become a better surfer—or just keeping you comfortable? In this episode, we explore a question that many surfers overlook: are you riding the board that suits your potential or simply what the surf industry has marketed to you? Whether you're a beginner or a seasoned surfer, learning how equipment shapes performa…
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1
121 Exploring Surfboards as Tools for Self-Discovery with Donald Brink
28:22
28:22
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28:22Is your surfboard truly helping you become a better surfer—or just keeping you comfortable? In this episode, we explore a question that many surfers overlook: are you riding the board that suits your potential or simply what the surf industry has marketed to you? Whether you're a beginner or a seasoned surfer, learning how equipment shapes performa…
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1
TIP730: Richer, Wiser, Happier, Q2 2025
2:17:25
2:17:25
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2:17:25On today’s show, Stig Brodersen talks with co-host William Green, the author of “Richer, Wiser, Happier.” In their quest for meaningful relationships and being the best version of themselves, they discuss what has made them Richer, Wiser, or Happier in the past quarter. You’re invited to join them on their journey. IN THIS EPISODE YOU’LL LEARN: 00:…
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1
TIP729: Mastering the Capital Cycle
1:03:43
1:03:43
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1:03:43In this episode, Clay explores the core ideas behind Capital Returns by Edward Chancellor and Marathon Asset Management. Based on decades of investing experience, the book uncovers the capital cycle framework, which reveals how capital flows, supply dynamics, and managerial incentives drive long-term investment outcomes. Whether you're a value inve…
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1
BTC238: Bitcoin 101 w/ Michael Schmid (Bitcoin Podcast)
1:05:40
1:05:40
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1:05:40Michael and Preston explore Bitcoin's foundational principles, covering digital scarcity, mining incentives, node infrastructure, and the importance of self-custody versus third-party management. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 12:13 - How Bitcoin prevents government-led currency debasement 19:14 - Why block reorganizations occur and ho…
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1
TIP728: Mastermind Q2, 2025: Microsoft, Block, Devon Energy, Adyen
1:50:32
1:50:32
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1:50:32In today's episode, Stig Brodersen is talking stocks with Tobias Carlisle and Hari Ramachandra. Stig’s pick is Microsoft, the world’s biggest market cap company for good reason. Tobias is pitching Devon Energy, an oil and gas producer with a big upside if you’re right about the timing. Hari’s stocks of choice are Adyen and Block, two fast-growing c…
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1
TIP727: 7 Powers by Hamilton Helmer
1:05:57
1:05:57
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1:05:57In this episode, Clay explores Hamilton Helmer’s 7 Powers framework, breaking down each of the seven sources of enduring competitive advantage. While companies all over the world offer benefits and value to society at large, few have barriers in place that prevent competitors from easily replicating those advantages. Whether you’re an investor or b…
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What if your best surfing is still ahead of you—even in your sixties? Many surfers fear they’ll lose their edge with age, but Tony Roberts proves that it’s possible to surf better than ever through intentional lifestyle choices, foundational training, and a lifelong commitment to progression. In this episode, we explore how rethinking surfing as a …
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1
120 Still Ripping at 60: Tony Roberts on Surfing Performance and Longevity
1:05:32
1:05:32
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1:05:32What if your best surfing is still ahead of you—even in your sixties? Many surfers fear they’ll lose their edge with age, but Tony Roberts proves that it’s possible to surf better than ever through intentional lifestyle choices, foundational training, and a lifelong commitment to progression. In this episode, we explore how rethinking surfing as a …
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1
BTC237: Bitcoin & the Insurance Industry w/ Garrett Johnston (Bitcoin Podcast)
56:54
56:54
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56:54Garrett Johnston shares why Bitcoin—not crypto—should be the foundation for insurance innovation. We explore regulatory friction, risk evolution, and strategic adoption for carriers and corporates. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 04:57 - How digital asset risk profiles evolve as companies scale 16:09 - The case for Bitcoin in insurance …
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Do you walk away from surf sessions frustrated—even when the waves were decent? In this episode, we dive into a powerful mindset shift that helps surfers of all levels enjoy every session—no matter the conditions. Whether you're chasing the dream swell or just trying to improve, managing your expectations could be the key to unlocking more joy and …
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TIP726: From Obscurity to Opportunity: Jon Cukierwar’s Investment Edge
1:17:39
1:17:39
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1:17:39On today’s episode, Kyle Grieve chats with Jon Cukierwar about his unique global investing approach focused on undiscovered companies. They delve into Jon’s high-conviction strategy, his in-depth on-the-ground research process, and how he uncovers overlooked opportunities by combining valuation, quality, and growth. IN THIS EPISODE YOU’LL LEARN: 00…
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1
TIP725: First Principles of Valuation w/ Tim Koller
54:51
54:51
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54:51On today’s episode, Clay is joined by Tim Koller to discuss all things valuation. Tim is the lead author of Valuation: Measuring and Managing the Value of Companies which is the #1 best-selling guide to business valuation. This book—now in its eighth edition—has sold more than one million copies, and is used as a textbook at top business schools su…
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1
BTC236: Stablecoin GENIUS Act & Bitcoin Policy Update w/ Matt Pines (Bitcoin Podcast)
54:22
54:22
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54:22Preston and Matthew discuss the upcoming Bitcoin Policy Summit, explore strategic financial maneuvers involving Bitcoin, dissect stablecoin impacts, and examine shifting global crypto dynamics. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:20 - Challenges facing the Federal Reserve’s independence 13:21 - Insights into Elon's policy influence and f…
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